The BBA on Nostr: Yesterday, the Financial Conduct Authority has published a Crypto Roadmap: 📍KEY ...

Yesterday, the Financial Conduct Authority has published a Crypto Roadmap:

📍KEY HIGHLIGHTS:

➡️ 2024

• Q4 2024:
• Stablecoins: Issuance and custody (Discussion Paper - DP).
• Admission and Disclosures (DP):
• Admission/rejection processes, disclosures, liability, due diligence.
• Market abuse: systems, controls, information sharing, inside information disclosure.
• Use of National Storage Mechanism (NSM).
• Stablecoins (Consultation Paper - CP):
• Backing assets, redemption, custody (recordkeeping, reconciliation, segregation of assets, use of third parties).
• Prudential Considerations: For cryptoasset exposures (DP).

➡️ 2025:
• Trading Platforms (DP):
• Rules on location, access, matching, transparency requirements.
• Staking: Ownership and disclosures.
• Lending: Rules on ownership, access, and disclosures.
• Q3 2025:
• Conduct and Firm Standards (CP):
• Governance (SMCR), operational resilience, financial crime, consumer duty, complaints, and conduct (COBS).

➡️ 2026

• Q4 2025/Q1 2026:
• Policy Statements: Final rules published.
• Regime Go-Live:
• Gateway opens.
• 2026:
• Consultation Papers (CP):
• Trading platforms, intermediation, lending, and staking.
• Remaining prudential framework (groups, reporting).
• Gateway Readiness: For firms to comply with new standards.

Since 2018, having participated in the inaugural Cryptoasset Task Force and numerous FCA Roundtables, The British Blockchain Association is looking forward to once again supporting the work of the UK regulators in advancing the evidence-based adoption of Blockchain Technologies.

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